Not too skimpy: US apparel giant buys Bras N Things in $500m deal

American apparel giant Hanesbrands has snapped up Australian lingerie retailer Bras N Things in a not-so-skimpy deal worth half a billion dollars.

Hanesbrands had already established a commanding position in the local socks and jocks trade in 2016 when it paid $1.1 billion for Pacific Brands and acquired the Bonds, Berlei, Jockey, Rio and Holeproof brands.

The chain has about 170 stores across Australia, New Zealand and South Africa. Photo: Michael Clayton Jones

On Friday morning it said it had agreed to buy Bras N Things from BB Retail Capital in an all-cash transaction worth $500 million.

The local retailer has about 170 stores across Australia, New Zealand and South Africa, selling high-end "intimate apparel", including bras, underpants, swimwear, sleepwear and what it terms "playwear".